So, we were facing the second great depression, slumped into a recession and Henry Paulson writes a book about it. I hope it ends up on the back shelf at Wal Mart for $13.50 like Sarah Palin’s.
This one gives the money to that one who loans it over there so they can put it in that bank, and we never see a dime. At this point if this keeps up, it will be nothing but Monopoly Money.
I predict Geithner will eat his words in some manner.
This is a problem once it is understood about what happened. Us taxpayers paid to bail out AIG and keep it afloat, and our money went to world banks in other countries. It is hard to believe that our Banking Committee didn’t play this out in their minds before giving AIG the money. In essence, we paid tax money to bail out banks in other countries.
AIG didn’t just give money to banks overseas to bail them out. It was money owed to them for paying claims on credit defualt swaps. Thats why AIG was in such big trouble of failing. They bit off more than they could chew in paying off claims owed to their insured’s.
The crux of the matter is whether or not it was necessary for the taxpayers to bail out AIG. The explaination seems to be “because I say so”. It doesn’t make any sense that a $180 billion bailout saved both the U.S. and the world economies. The whole debacle is a lot of BS in my opinion. We should have let them go into bankruptcy. And I can’t help but think that some people profited by the resulting transactions.
Ben Dover is so to-the-point that no one will ever give his absolutely factual comments any weight whatsoever. Geithner WILL eat his words, and it is ridiculous that he could NOT have known what the bailout plan would entail – including backdoor payouts to banks for cooked investments at 100% par. The plan now is for Geithner and the rest of the “foxes” to guard the henhouse long enough to bury the evidence of what they knew and when they knew it. Sadly, they will succeed – at least through the next couple election cycles.
So, we were facing the second great depression, slumped into a recession and Henry Paulson writes a book about it. I hope it ends up on the back shelf at Wal Mart for $13.50 like Sarah Palin’s.
This one gives the money to that one who loans it over there so they can put it in that bank, and we never see a dime. At this point if this keeps up, it will be nothing but Monopoly Money.
I predict Geithner will eat his words in some manner.
This is a problem once it is understood about what happened. Us taxpayers paid to bail out AIG and keep it afloat, and our money went to world banks in other countries. It is hard to believe that our Banking Committee didn’t play this out in their minds before giving AIG the money. In essence, we paid tax money to bail out banks in other countries.
AIG didn’t just give money to banks overseas to bail them out. It was money owed to them for paying claims on credit defualt swaps. Thats why AIG was in such big trouble of failing. They bit off more than they could chew in paying off claims owed to their insured’s.
Right, but the net effect is that our tax dollars went to foreign economies while we were told we were helping AIG.
The crux of the matter is whether or not it was necessary for the taxpayers to bail out AIG. The explaination seems to be “because I say so”. It doesn’t make any sense that a $180 billion bailout saved both the U.S. and the world economies. The whole debacle is a lot of BS in my opinion. We should have let them go into bankruptcy. And I can’t help but think that some people profited by the resulting transactions.
Ben Dover is so to-the-point that no one will ever give his absolutely factual comments any weight whatsoever. Geithner WILL eat his words, and it is ridiculous that he could NOT have known what the bailout plan would entail – including backdoor payouts to banks for cooked investments at 100% par. The plan now is for Geithner and the rest of the “foxes” to guard the henhouse long enough to bury the evidence of what they knew and when they knew it. Sadly, they will succeed – at least through the next couple election cycles.